10 Lucrative Business Ideas – I love this question. This is how I started. I started small, with a niche website in the insurance space (you can see all my niche site ideas here). I wasn’t trying to be the next Bill Gates, I wasn’t trying to start the next Silicon Valley tech company to hit it big with an IPO. I was not looking for angel investors, partners and startup capital. I paid $50, set up a website and turned a simple business idea (selling online courses in the insurance industry) into a very profitable small business making over $8,000 a month.
Now, that doesn’t mean I won’t be working on the next big tech idea that I’ll throw myself into Silicon Valley’s startup frenzy at some point in my life. This is just the first step. The first small step on the way to bigger and better ideas. I will continue to build businesses. A small business idea doesn’t stop there. This is just a very profitable little idea that will help me achieve financial freedom with recurring passive income, so I can quit my regular 9-5 job and work on building other businesses, pursuing my interests, hobbies Follow the new and enjoy my life. Other major businesses will enter the market later. I am still learning.
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What I am saying is start small. Start with a small and easy idea to make quick profits and support yourself financially. Start with something to get your foot in the door, get your bearings, and learn the ropes before you hit the road with your next business.
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Consider this your first step. Start with a profitable small business idea, one that can generate around $10,000 a month. Then, expand that business and move on to your next big idea. You don’t need angel investors, partners and startup capital. You don’t need 1 million YouTube subscribers, you don’t need 100,000 monthly web views, you don’t need to go viral, you don’t need 3 million app downloads. You need a small business and a few hundred loyal customers (maybe less) to become financially free. As Kevin Kelly said in his famous blog post 1000 True Fans, all you need is 1000 people to pay you $100 a year. This is a business that generates $100,000 in revenue annually. Now this is achievable. That you can do.
Today, I’m going to give you ten ideas you can use to get your first business off the ground. A business that helps you achieve financial freedom so you can live the life of your dreams and move on to bigger and better things.
And remember, if you haven’t already, be sure to download our five favorite niche site ideas for step-by-step instructions for building your first online business.
As always, there are three ways to consume this content. I am a content marketing enthusiast, so I like to create different types of content. You can share these profitable small business ideas on your blog, as a video or as a slide show. Choose how to view the content with the buttons below.
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Online business is my lifeline. This is where I live my life. It’s very profitable, it’s easy to get started, and there are countless opportunities in the online business space.
Contrary to popular belief, starting an internet business is easy and cheap. All you need is an idea and a little effort to start a business. My first business cost a total of $20. My online business, which now makes at least $5,000 a month in passive income, costs $50 to start. You can do it cheaply. You can earn money online with an investment of $50 or less. All you need to get started is an idea, a $1 domain name on GoDaddy, and a web host (which usually costs about $50 a year).
Finding an idea is hard. I recommend that you start the niche. If you’re struggling to think of ideas, I recommend downloading my five favorite online business ideas (businesses I’d start if I had more time).
Find a niche that you are interested in and are familiar with. If you love to cook, this could be the place for you. Maybe your specialty is baking gluten-free desserts. Great, there’s your niche business. You can create an entire website dedicated to gluten-free dessert recipes where you sell cookbooks and earn money by recommending the best cookware.
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Don’t start too big with your online business. You want to be as special and attractive as possible. Start with a niche and build the site from there. Starting an online business is easy and cheap.
Why not start with a local service business? It can be any service you can provide. Here are just a few local service business ideas I can think of, many of which I have personally paid for:
This definition of a profitable small business idea is what most people think of first when they hear “small business”.
How many summers did you work landscaping? You can start a landscaping or lawn service business.
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Do you live in New England like me? Buy a plow or pick up a shovel and start snow removal or plowing in winter.
Why not branch out at Rover and start a dog walking business? If you think about your local town and the services you can provide, there are a thousand profitable small business opportunities.
Personally, I have never started a physical or local service business. At least not yet. But I’ve worked with a number of clients who have built profitable small businesses that bring in thousands of dollars a month, hired small teams to take work off their plates, and eventually sold the business to move on to bigger projects and It is better to move with less hands. manual work
Here are some “how to” resources that I’ve stumbled upon in the past and saved for myself. These are real case studies on how to start and run a business with any of the following profitable small business ideas:
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Amazon FBA can be your first small business and if done right can be very profitable. Just check out how successful JungleScout’s Greg Mercer is. He is constantly building six-figure businesses through the Amazon FBA program. I recommend following JungleScout’s Million Dollar Case Study to see exactly how Greg does it. I launched my product following Greg’s case study on Amazon.
Amazon FBA is the process of selling physical goods on Amazon through Amazon’s inventory and delivery program. In this process, you work with a manufacturer (most likely in China) to create a product, purchase inventory, ship it to Amazon warehouses, sell the products on Amazon, and Amazon fulfills the orders and ships the products to your customers. he sends.
Through this process, you are finding a niche in a physical commodity type. Preferably a physical product that has already been invented and is well known, so you don’t need to create an entirely new invention. You just take a popular product and somehow improve it.
Like taking a bookshelf and folding it. Take a baby blanket and make it softer and more durable. Taking an inflatable chair and making it firmer and more comfortable. Choose a product already searched on Amazon, read the bad reviews and improve the product to sell a better version of the product already selling on Amazon. This is how you find your niche using Amazon FBA.
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It costs a little money to play. My Amazon FBA product (which was not successful, although I will try again) cost me $13,000 upfront to purchase inventory and ship the products to Amazon’s warehouse. That being said, if you follow Greg’s instructions on JungleScout, you can easily set up an FBA product with an upfront cost of around $2,000 for inventory.
Your day job can be your first business. I talk about this on my blog list, but I’ll repeat it here because it’s such a great idea. Plus this is one of the ideas I use in my business, so I guess I’m biased.
Is there something you do during the day that you can turn into a business? Are you a mechanic, marketing analyst or CPA? All of these can be turned into an online business.
You can turn your day job into a coaching practice, you can teach people one-on-one or in a brainstorming environment how to become a mechanic. You could write a book on how to climb the corporate ladder as a CPA. You can start a blog about the best firms to work for new lawyers entering the workforce. You can coach people one-on-one on how to improve their job performance and how to advance their career. you can
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